The U.S. Department of Energy (DOE) has awarded Novozymes an award of up to $2.5 million to find new and more efficient enzymes for turning corn stover into fuel for cars and trucks. The specific project that was awarded funds by the DOE is called ‘SynTec,’ and is a two-year collaborative project between Novozymes and MBI. The companies will screen …
Abengoa US Formed
International company Abengoa has announced the creation of a new American subsidiary, Abengoa, US, which will be responsible for all its business in the country. The formation of the new subsidiary supports the company’s strong commitment to the U.S. market. According to the company, Abengoa US has assets in excess of $5.8 billion, more than $1.7 billion in shareholders’ equity, …
Sweetwater and Ace to Produce Cellulosic Ethanol
A cellulosic sugar producer in New York has signed a deal with an ethanol plant in Wisconsin to begin commercial production of cellulosic ethanol. Sweetwater Energy signed a long-term commercial agreement with Ace Ethanol to generate cellulosic ethanol at the ACE corn ethanol facility for up to 16 years. According to Sweetwater officials, the company’s “patented, decentralized process will convert …
Farm Bill Extension Without Energy Funding is Job Killer
With the 112th Congress unable to come to terms and pass a new Farm Bill, the current bill was extended for nine months while the 113th Congress works to pass a 2013 Farm Bill. Although the bill is extended as part of the American Taxpayer Relief of 2012, it was extended without energy title funding that includes programs such as …
Sen. Byron Dorgan to Keynote NBB’s Momentum
Retired Senator and biodiesel champion Byron Dorgan will be the keynote speaker on Wednesday, February 6, 2013 at the National Biodiesel Conference & Expo in Las Vegas. While serving as a senator, Dorgan consistently sponsored legislation that became the Renewable Fuel Standard (RFS), and advocated for the biodiesel tax incentive and energy program in the Farm Bill. A recognized leader …
REG Reduces Debt with Seneca Payoff
The country’s largest biodiesel producer, Renewable Energy Group (REG), has paid off its long-term debt obligations of its operating biorefinery subsidiary in Seneca, Illinois. REG Seneca, LLC retired its outstanding long-term debt obligation of $34.5 million on December 21 with cash generated from operations since April 2010. This amended and restated credit agreement went into effect April 2010 with Portigon …
Ethanol Industry Pleased With Tax Extensions
Very early this morning the American Taxpayer Relief Act of 2012 was passed that included several one-year biofuel tax extensions including the Cellulosic Producer Tax Credit. While the ethanol industry was pleased with the bill, they remain outspoken that the biofuel industry needs a long-term federal commitment – not just one year. Brooke Coleman, Executive Director of Advanced Ethanol Council …
Fiscal Cliff Aversion Benefits Biodiesel
The U.S. House of Representatives burned the midnight oil of the first day in the New Year and signed the Senate’s “fiscal cliff” bill. The package includes several tax extenders items, including the reinstatement of the 2013 biodiesel blenders tax credit as well as retroactive credit for 2012. Shortly after the vote, the biodiesel industry reacted including the Renewable Energy …
Ag Secretary Reacts to EPA Administrator Resignation
Agriculture Secretary Tom Vilsack has had a good working relationship with EPA Administrator Lisa Jackson on various issues important to farmers, ranchers and renewable energy and he is sorry to hear about her resignation from the Obama cabinet. “Lisa Jackson has served our country well as she balanced improving the environment and the health of the American people – while …
REG Newton Extends Loan Agreement
Renewable Energy Group (REG) has announced that its REG Newton, LLC loan with AgStar Financial Service, PCA was extended for one additional year. The biodiesel facility entered into this debt agreement with AgStar in conjunction with the related March 2010 acquisition of the assets of Central Iowa Energy, LLC. “We’re pleased that the lender syndicate saw fit to extend this …